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10-15-19 | Economic News
An 8.9% increase in the commercial component was the driver for the growth as the institutional component lost 4.8%.
For the third quarter, the monthly scores averaged 140.1, an increase of 0.7% from its average in the previous quarter. But compared to the third quarter of 2018, the index is 8.6% lower - with the commercial component down 3.7% and the institutional component off 16.2%.
The latest statement from the provider of analytics and software-based workflow integration solutions for the construction industry read, "While the dollar volume of projects in planning is certainly lower than it was a year ago, the index has moved more sideways than downward over the last two quarters."
In September, 15 projects each with a value of $100 million or more entered planning. The leading commercial projects were a $400 million consolidated rental car facility at Newark International Airport and a $163 million embassy renovation in Arlington, Virginia. The leading institutional projects were a $235 million dormitory project in Irvine, California, and the $180 million Jefferson Regional Medical Center in Pine Bluff, Arkansas.
Nonresidential Planning Index Shows Monthly Gain
Dodge Momentum Index
The commercial component of the index was up 8.9% month-to-month, but the institutional side decreased 4.8%.
The Dodge Momentum Index, which is a monthly measure for nonresidential building projects in planning, moved 4.1% higher in September to 143.6. Put out byA Dodge Data & Analytics, the report has been shown to lead construction spending for this segment by a full year.A
An 8.9% increase in the commercial component was the driver for the growth as the institutional component lost 4.8%.
For the third quarter, the monthly scores averaged 140.1, an increase of 0.7% from its average in the previous quarter. But compared to the third quarter of 2018, the index is 8.6% lower - with the commercial component down 3.7% and the institutional component off 16.2%.
The latest statement from the provider of analytics and software-based workflow integration solutions for the construction industry read, "While the dollar volume of projects in planning is certainly lower than it was a year ago, the index has moved more sideways than downward over the last two quarters."
In September, 15 projects each with a value of $100 million or more entered planning. The leading commercial projects were a $400 million consolidated rental car facility at Newark International Airport and a $163 million embassy renovation in Arlington, Virginia. The leading institutional projects were a $235 million dormitory project in Irvine, California, and the $180 million Jefferson Regional Medical Center in Pine Bluff, Arkansas.
Filed Under: ECONOMICS, DODGE, MOMENTUM, NONRESIDENTIAL, CONSTRUCTION
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